Knott David M Jr Increases Position in Inozyme Pharma, Inc. (NASDAQ:INZY)

Knott David M Jr lifted its holdings in shares of Inozyme Pharma, Inc. (NASDAQ:INZY) by 23.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 695,000 shares of the company’s stock after acquiring an additional 130,451 shares during the quarter. Inozyme Pharma accounts for about 0.7% of Knott David M Jr’s holdings, making the stock its 21st largest position. Knott David M Jr’s holdings in Inozyme Pharma were worth $1,925,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of INZY. China Universal Asset Management Co. Ltd. bought a new stake in shares of Inozyme Pharma during the 4th quarter worth $38,000. Palumbo Wealth Management LLC raised its position in Inozyme Pharma by 52.3% in the fourth quarter. Palumbo Wealth Management LLC now owns 23,281 shares of the company’s stock worth $64,000 after acquiring an additional 7,995 shares during the period. Virtu Financial LLC bought a new stake in Inozyme Pharma in the third quarter worth about $64,000. Intech Investment Management LLC purchased a new position in Inozyme Pharma in the fourth quarter valued at about $68,000. Finally, Readystate Asset Management LP bought a new position in shares of Inozyme Pharma during the 3rd quarter valued at approximately $100,000. 88.30% of the stock is currently owned by institutional investors.

Inozyme Pharma Price Performance

INZY stock opened at $0.91 on Tuesday. The firm has a 50 day moving average of $1.22 and a 200-day moving average of $2.87. The firm has a market capitalization of $58.46 million, a P/E ratio of -0.58 and a beta of 1.32. Inozyme Pharma, Inc. has a 12 month low of $0.88 and a 12 month high of $7.80. The company has a current ratio of 7.68, a quick ratio of 7.68 and a debt-to-equity ratio of 0.51.

Analyst Ratings Changes

INZY has been the topic of a number of research reports. Raymond James lowered their price target on shares of Inozyme Pharma from $24.00 to $12.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. HC Wainwright restated a “buy” rating and issued a $16.00 target price on shares of Inozyme Pharma in a research note on Tuesday, March 11th. Piper Sandler cut their price target on Inozyme Pharma from $30.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Wells Fargo & Company lowered their price objective on Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Needham & Company LLC dropped their price objective on shares of Inozyme Pharma from $23.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, Inozyme Pharma currently has an average rating of “Buy” and an average price target of $14.56.

Inozyme Pharma Company Profile

Inozyme Pharma, Inc, a clinical-stage rare disease biopharmaceutical company, focuses on developing novel therapeutics for the treatment of vasculature, soft tissue, and skeleton diseases. The company's lead product candidate is INZ-701, a soluble, recombinant, genetically engineered, and fusion protein for the treatment of ENPP1 and ABCC6 deficiencies, as well as patients with end-stage kidney disease receiving hemodialysis.